Phar­ma earn­ings sea­son starts with cor­po­rate prof­its, new CEOs tak­ing cen­ter stage

Quar­ter­ly earn­ings kick off in earnest this week, with a hand­ful of the largest bio­phar­ma com­pa­nies set to re­port how they’re do­ing mid­way through 2023.

While in­vestors and an­a­lysts will be close­ly watch­ing some CEOs set­tle in­to new roles with new strate­gies, last week’s earn­ings from John­son & John­son and No­var­tis al­so serve as a re­minder of a sim­ple les­son: In­vestors want beat-and-raise quar­ters with no sur­pris­es.

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